I have agreed to loan this user £60 via Paypal for a period of up to 21 days at a fee of £5 per week, or fractional fee for as per the calculation of fee = £n*(5/7) to be added on top of the original loan amount.
DrMatrix has offered collateral, but this is not necessary due to certain security measures provided by Paypal.
PP able to protect you , only if you send money as for service & goods, and keep in mind that even you already got money back, borrower can will make chargeback later(up 180day), so you still risky.